Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2024
(Based on IFRS)May 9, 2024
Company name:
Digital Garage, Inc.
Stock exchange listing: Tokyo
Securities code:4819
URL https://www.garage.co.jp/en/
Representative Director,
Representative:
Kaoru Hayashi
President, Executive Officer and Group CEO
Corporate Officer Deputy Head of Corporate
Inquiries:
Hiroyuki Nozaki
Div.
Scheduled date of ordinary general meeting of shareholders:June 21, 2024
Scheduled date to file Securities Report:
Scheduled date to commence dividend payments:

June 21, 2024
June 24, 2024

Preparation of supplementary material on financial results:
Holding of financial results meeting:

Yes
Yes

TEL

03-6367-1111(Amounts are rounded off to the nearest million yen)
1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating resultsPercentages indicate year-on-year changes
Profit attributable to ComprehensiveRevenue
Profit before tax
Profitowners of parent
incomeMillions of yen

Year ended March 31, 2024
Year ended March 31, 2023%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

37,853 25.9
30,070 (58.8)

6,298(13,881)––

5,551(9,315)

–
–

5,806
(9,051)––

6,187(9,539)––Basic earnings per Diluted earnings pershare
share
Yen

Return on equity
Ratio of profit before Ratio of operating
attributable totax to total assetsprofit to revenue
owners of parent

Yen%%%

Year ended March 31, 2024
126.77125.31
6.9
2.8
16.6
Year ended March 31, 2023
(193.13)(193.13)(10.3)(6.2)(46.2)(Reference) Share of profit of investments accounted for using equity: Year ended March 31, 2024: 3,657 million yen
Year ended March 31, 2023: 925 million yen(Note) Due to the application of IAS 12, "Income Taxes" (revised in May 2021), the figures for the fiscal year ended March 31, 2023, have been
retrospectively applied.
(2) Consolidated financial position
Total assets

Total equity

Millions of yen

Millions of yen

Ratio of equity
Equity attributable toEquity attributable to attributable to owners
owners of parent per
owners of parentof parent to total
shareassets
Millions of yen%

Yen

As of March 31, 2024
231,431
92,13889,25138.6
1,883.73
As of March 31, 2023
216,275
81,97280,03037.0
1,737.03(Note) Due to the application of IAS 12, "Income Taxes" (revised in May 2021), the figures for the fiscal year ended March 31, 2023, have been
retrospectively applied.
(3) Consolidated cash flows
Cash flows fromoperating activities
Year ended March 31, 2024
Year ended March 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Millions of yen

Millions of yen

Millions of yen

Millions of yen(11,032)
13,473(8,763)
1,628

15,931(5,214)49,57153,3351

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end
Yen

Yen

Yen

Total cash
dividends

TotalYen

Yen

Dividend payout
ratio

Ratio of dividends
to equity
attributable toowners of parent%%

Millions of yen

Year ended March 31, 2023
–
0.00
–
37.00
37.00
1,705
–
Year ended March 31, 2024
–
0.00
–
40.00
40.00
1,895
31.6
Year ending March 31, 2025
–
0.00
–
53.00
53.00
–
(Forecast)(Note) Breakdown of year-end dividend for the fiscal year ending March 31, 2025 (forecast): Ordinary dividend: 43.00 yen
Special/commemorative dividend: 10.00 yen

2.0
2.2

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)
In the Platform Solution segment, the Group's earnings base, profit before tax from the payment business, which is expected to expandsteadily, is forecast to increase by 20% compared to the previous consolidated fiscal year. For the entire Platform Solution segment, profit before
tax is expected to increase by 20 to 25%.
The Company does not disclose its consolidated financial results forecast, because it is difficult to reasonably estimate the fair value ofsecurities, which the Group holds through investments primarily in startup companies, at the end of the period.
* Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies and changes in accounting estimates
Changes in accounting policies required by IFRS:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:No(3) Number of issued shares (ordinary shares)
Total number of issued shares at end of period (including treasury shares)
As of March 31, 2024

47,619,100 shares As of March 31, 2023

47,607,500 shares

239,371 shares As of March 31, 2023

1,534,826 shares

45,798,803 shares Year ended March 31, 2023

46,867,530 shares

Number of treasury shares at end of period
As of March 31, 2024
Average number of shares during period
Year ended March 31, 2024

(Reference) Summary of non-consolidated financial results
Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 [JGAAP] (April 1, 2023 - March 31, 2024)(1) Non-consolidated operating results
RevenueYear ended March 31, 2024
Year ended March 31, 2023

Operating profit

Net profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

8,114
7,642

6.2(3.7)(6,576)(4,684)-2,905
4,672(37.8)
903.1

2,655
7,141(62.8)-

Net profit per share
Year ended March 31, 2024
Year ended March 31, 2023

Ordinary profit

Diluted net income
per share

Yen

Yen

57.96
152.3757.30
136.94(2) Non-consolidated financial position
Total assets

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

As of March 31, 2024
101,387
As of March 31, 2023
84,335(Reference) Net assets: As of March 31, 2024: 30,235 million yen
As of March 31, 2023: 25,668 million yen

31,844
27,04629.8
30.4

638.13557.12<Reasons for Differences between Non-Consolidated Financial Results for the Fiscal Years ended March 31, 2023 and 2024>
In the fiscal year ended March 31, 2024, ordinary profit decreased due to a decrease in dividend income from subsidiaries. Also, net profit
decreased due to the absence of the extraordinary gains from the sale of shares in affiliates recorded in the previous fiscal year, and the recordingof a loss on the valuation of shares in subsidiaries.

2

* The summary of financial results is not subject to review by a certified public accountant or auditing firm.
* Explanation of the appropriate use of financial results forecasts and other special notes(Means of obtaining supplementary information on financial results and the contents of financial results meeting)
As for the financial results meeting, the briefing video will be available on the Company's website(https://ir.garage.co.jp/en/) in Japanese andEnglish. The presentation materials used in the video will be available on TDnet on the same day and will also be posted on the Company's website.

3Consolidated financial statements
Consolidated statement of financial position(Millions of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and cash equivalents

53,33549,571

Trade and other receivables
Inventories

20,765357

30,154428

Operational investment securities
Other financial assets

67,676281

69,569279

Income taxes receivable
Other current assets

1,384
979

1,204
890

144,776

152,094

Property, plant and equipment
Goodwill16,613
6,415

14,9906,964Intangible assets
Investment property

4,548
3,400

5,625
1,912

Investments accounted for using equity method
Other financial assets

25,922
14,24533,965
14,974

Deferred tax assets
Other non-current assets

25
331

509
397

Total non-current assets

71,49879,337

216,275

231,431

Total current assets
Non-current assets

Total assets

4

(Millions of yen)
As of March 31, 2024

As of March 31, 2023
Liabilities and equity
Liabilities
Current liabilities
Bonds and borrowings

38,74555,706

Trade and other payables
Other financial liabilities

48,877
1,691

42,568
1,669

Income taxes payable
Other current liabilities

1,388
4,080

365
4,092

Total current liabilities

94,780104,401

Bonds and borrowings
Other financial liabilities

13,957
9,127

11,633
7,426

Retirement benefit liability
Provisions

477
476

460
479

Deferred tax liabilities
Other non-current liabilities

14,717767

14,312582

Total non-current liabilities

39,522

34,892

134,303139,293

Share capital
Capital surplus

7,830
6,229

7,846
5,385

Treasury shares
Other components of equity(6,293)
1,650(975)1,613Retained earnings

70,61475,382

Total equity attributable to owners of parent

80,03089,251

Non-controlling interests

1,942

2,887

Total equity

81,972

92,138216,275

231,431

Non-current liabilities

Total liabilities
EquityTotal liabilities and equity

5Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2024

Fiscal year ended
March 31, 2023
Revenue
Revenue in recurring business
Revenue in operational investment securities
Other income
Finance income
Share of profit of investments accounted for using equity
methodTotal
Expenses
Cost of sales

25,12826,620

–
3,518

4,758
1,079

499

1,740

925

3,657

30,07037,853

10,094

10,676

Loss in operational investment securities
Selling, general and administrative expenses

7,926
16,175–
17,861Other expenses
Finance costs

1,190
8,567

2,773
245

Total

43,952

31,555

Profit (loss) before tax(13,881)

6,298

Income tax expense(4,566)

747

Profit (loss)(9,315)

5,551(9,051)(264)5,806(255)(193.13)(193.13)126.77125.31

Profit (loss) attributable to
Owners of parent
Non-controlling interests
Earnings (loss) per share
Basic earnings (loss) per share
Diluted earnings (loss) per share

6Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended

Fiscal year ended
March 31, 2023
Profit (loss)

March 31, 2024
(9,315)

5,551

(668)

15

8(8)

(16)

(2)

453

631

0

1(224)

636(9,539)6,187(9,277)

6,436(262)(249)

Other comprehensive income
Items that will not be reclassified to profit or loss
Net change in fair value of equity instruments designated asmeasured at fair value through other comprehensive income
Remeasurements of defined benefit plans
Share of other comprehensive income of investments
accounted for using equity method
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign operations
Share of other comprehensive income of investments
accounted for using equity method
Other comprehensive income, net of tax
Comprehensive income
Comprehensive income attributable toOwners of parent
Non-controlling interests

7Consolidated statement of changes in equity(Millions of yen)
Equity attributable to owners of parent
Other components of equity
Financial assets

Share

CapitalTreasury

capitalsurplussharesmeasured at fairvalue throughothercomprehensive
incomeBalance at April 1, 2022
Cumulative effect of accountingchangeRestated balance

7,692

6,147(1,409)

Issuance of new shares
Changes in ownership interest in

7,692

6,147

(1,409)

–

0

2,273

613

1,660

0

2,273(685)

452

8–
(226)

(685)

452

8(226)

138

138

–

13––

(9)
(47)

116
(5,000)Transfer from other components ofequity to retained earnings––(397)

Other(397)

(12)

–

138

83(4,884)

(397)

––

(397)

7,830

6,229

(6,293)

(469)

2,111

8

1,650
–
630

Profit (loss)
Other comprehensive income
Comprehensive income
Issuance of new shares

1,660

Total

of defined
benefit plans–

Share-based payment transactions
Purchase of treasury shares

Balance at March 31, 2023

of foreign
operations

Remeasurements–

subsidiaries
Dividends

Totalontranslation–

Profit (loss)
Other comprehensive income
Comprehensive income

613

Exchangedifferences–
16

Changes in ownership interest in
subsidiaries

–
16–

13625

(8)

13625

(8)

(3)

630
–
–

Change in scope of consolidation
Dividends––

Share-based payment transactions
Purchase of treasury shares

228
(57)

137
(5,000)––

Disposal of treasury shares
Transfer from other components of(1,031)

10,181–(668)

equity to retained earnings
OtherTotal
Balance at March 31, 2024

(668)

4

–

16(844)

5,318

(668)

–

–

(668)

7,846

5,385

(975)

(1,124)

2,737

(0)

1,613

8

(Millions of yen)
Equity attributable to owners of parentRetained earnings
Balance at April 1, 2022
Cumulative effect of accountingchangeRestated balance

Non-controlling

Totalinterests

Total

81,03595,738

1,479

97,217

(120)

(120)

(0)

(120)

80,916

95,618

1,479

97,097

Profit (loss)
Other comprehensive income(9,051)(9,051)
(226)

(264)
2(9,315)(224)

Comprehensive income
Issuance of new shares(9,051)(9,277)275(262)(9,539)
275

13752

765

(1,648)107(27)(1,675)
107

Changes in ownership interest in
subsidiaries
Dividends
Share-based payment transactions
Purchase of treasury shares
Transfer from other components ofequity to retained earnings
OtherTotal(1,648)397(5,047)(5,047)

––

(12)

(12)

(1,251)(6,312)725(5,587)70,614
5,806

80,030
5,806

1,942
(255)

81,972
5,551

630

6636

6,436
31

(249)

6,187
31

Changes in ownership interest in
subsidiaries

(3)

853

850

Change in scope of consolidation
Dividends–(1,705)

362
(21)

362
(1,726)

Balance at March 31, 2023
Profit (loss)
Other comprehensive income
Comprehensive income
Issuance of new shares

5,806(1,705)

Share-based payment transactions
Purchase of treasury shares

365(5,057)365(5,057)

Disposal of treasury shares
Transfer from other components of9,150

9,150

668

––(1,037)

2,785

1,194

3,979

75,382

89,251

2,887

92,138equity to retained earnings
OtherTotal
Balance at March 31, 2024

494

Consolidated statements of cash flows
Fiscal year ended(Millions of yen)
Fiscal year ended

March 31, 2023

March 31, 2024

Cash flows from operating activities
Profit (loss) before tax
Depreciation and amortization(13,881)
3,632

6,298
3,760Impairment losses
Interest and dividend income

400(57)2,392(50)Interest expenses on borrowings and bonds
Share of loss (profit) of investments accounted for using

269232equity method
Loss (gain) on investment securities(925)(3,657)

8,275

(782)

Loss (gain) on sales of shares of subsidiaries and associates
Decrease (increase) in trade and other receivables(2,631)3,735(1)(9,492)

Decrease (increase) in investment securities for sale
Decrease (increase) in inventories

10,365(10)(2,054)(70)

Increase (decrease) in trade and other payables
Increase (decrease) in accrued consumption taxes

4,383
(112)

(6,429)348

637(1,319)SubtotalInterest and dividends received

14,078
1,505(10,825)1,550Interest paid
Income taxes refund (paid)(102)(2,008)(158)(1,598)Net cash provided by (used in) operating activities

13,473(11,032)

(342)

(697)

(1,838)(103)(2,216)(413)

Proceeds from sale of investment securities
Proceeds from dividend of investment partnership

90294

1,683808

Payments for acquisition of subsidiaries
Purchase of investments accounted for using equity method–(550)(883)(7,047)

Proceeds from sale of investments accounted for using equitymethod

3,522

58

Other

Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities

Other
Net cash provided by (used in) investing activities

10(57)(57)

1,628(8,763)

Fiscal year ended(Millions of yen)
Fiscal year ended

March 31, 2023

March 31, 2024

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings

4,130
1,250

16,64026,100

Repayments of long-term borrowings
Redemption of bonds(2,901)–(3,345)(25,000)

Repayments of lease liabilities
Capital contribution from non-controlling interests(1,727)765(1,718)899

Purchase of treasury shares
Proceeds from disposition of treasury shares(5,068)–(5,076)
9,150

Dividends paid
Other

(1,647)(16)(1,704)(14)

Net cash provided by (used in) financing activities(5,214)

15,931

33100

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period

9,919
43,415(3,764)53,335

Cash and cash equivalents at end of period

53,33549,571

Effect of exchange rate changes on cash and cash equivalents

11